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Investment policy and bank bill rate

Bank bill rate

The bank bill rate is a defined term in the Wholesale Electricity Market (WEM) Rules. It is the rate set by AEMO based on an industry standard market indicator, details of which must be published by AEMO. The bank bill rate is set:

  • At approximately 10.00 am on any given business day to apply for that day.
  • If the relevant day is not a business day, or AEMO does not set a rate for that day, on the previous business day on which a rate was set under paragraph (a).

The following WEM Rules reference the bank bill rate:

  • 2.28.5. Where credit support is provided as a security deposit in accordance with clause 2.38.4(b), it will accrue interest daily at the bank bill rate, and AEMO must pay the market participant or network operator the interest accumulated at the end of each calendar month less any liabilities and expenses incurred by AEMO including bank fees and charges.
  • 9.1.3. Where these WEM rules indicate interest is payable on an amount, interest accrues daily at the bank bill rate from (and including) the date that payment was due up to (but excluding) the date of payment, or in the case of an adjusted settlement statement provided under clause 9.19 from (and including) the payment due date for the Invoice issued for the original settlement statement up to (but excluding) the actual date of payment for the Invoice issued for the adjusted settlement statement.

Basis for determining bank bill rate

AEMO applies the investment policy described below. The relevant term is one calendar month, where the rate is set on the last business day of the preceding month, and will apply from the following day up to and including the last business day of the following month.

Date from

Date to

Bank Bill Rate

 8 January 2020  4 February 2020  0.50%, 0.95%
 4 December 2019  7 January 2020  0.50%, 0.95%
6 November 2019
3 December 2019
0.50%, 0.95%
2 October 2019
5 November 2019
0.50%, 0.95%
4 September 2019
1 October 2019
0.75%, 1.20%
7 August 2019 3 September 2019 0.75%, 1.20%
3 July 2019 6 August 2019 0.75%, 1.20%
5 June 2019 2 July 2019 1.00%, 1.45%
7 May 2019 4 June 2019 1.25%, 1.70%
2 April 2019 6 May 2019 1.25%, 1.70% 
5 March 2019 1 April 2019 1.25%, 1.70% 
5 February 2019 4 March 2019 1.25%, 1.70%
1 January 2019 4 February 2019 1.25%, 1.70%
Historic bank bill rates

Date from

Date to

Bank Bill Rate

5 December 2018 31 December 2018 1.25%, 1.70%
6 November 2018 4 December 2018 1.25%, 1.70%
2 October 2018 5 November 2018 1.25%, 1.70%
4 September 2018 1 October 2018 1.25%, 1.70%
7 August 2018 3 September 2018 1.25%, 1.70%
4 July 2018  6 August 2018 1.25%, 1.70%
1 June 2018 3 July 2018 1.25%, 1.70%
1 May 2018 31 May 2018 1.70%
1 April 2018 30 April 2018 1.70%
1 March 2018 31 March 2018 1.70%
1 February 2018 28 February 2018 1.70%
1 January 2018 31 January 2017 1.70% 
1 December 2017 31 December 2017  1.70%
1 November 2017 30 November 2017 1.70%
1 October 2017 31 October 2017 1.70%
1 September 2017 30 September 2017 1.70%
1 August 2017 31 August 2017 1.70%
1 July 2017 31 July 2017 1.70%
1 June 2017 30 June 2017 1.70%
1 May 2017 31 May 2017  1.70%
1 April 2017 30 April 2017 1.70%
1 March 2017 31 March 2017 1.70%
1 February 2017 28 February 2017 1.70%
1 January 2017 31 January 2017 1.70%
1 December 2016 31 December 2016 1.70% 
1 November 2016 30 November 2016 1.70%
1 October 2016 31 October 2016 1.70%
1 September 2016 30 September 2016 1.70%
1 August 2016 31 August 2016 1.70%
1 July 2016 31 July 2016 1.95%
1 June 2016 30 June 2016 1.95%
3 May 2016 31 May 2016 1.95%
1 May 2016 2 May 2016 2.20%

1 Apr 2016

30 Apr 2016

2.20%

1 Mar 2016

31 Mar 2016

2.20%

1 Feb 2016

29 Feb 2016

2.20%

1 Jan 2016

31 Jan 2016

2.20%

1 Dec 2015

31 Dec 2015

2.20%

1 Nov 2015

30 Nov 2015

1.95%

1 Oct 2015

31 Oct 2015

1.95%

1 Sep 2015

30 Sep 2015

1.95%

1 Aug 2015

31 Aug 2015

1.95%

1 July 2015

31 July 2015

1.95%

1 June 2015

30 June 2015

1.95%

6 May 2015

31 May 2015

1.95%

1 May 2015

5 May 2015

2.20%

1 Apr 2015

30 Apr 2015

2.20%

1 Mar 2015

31 Mar 2015

2.20%

4 Feb 2015

28 Feb 2015

2.20%

1 Feb 2015

3 Feb 2015

2.45%

1 Jan 2015

31 Jan 2015

2.45%

29 Nov 2014

31 Dec 2014

2.40%

1 Nov 2014

28 Nov 2014

2.62%

1 Oct 2014

31 Oct 2014

2.67%

30 Aug 2014

30 Sep 2014

2.60%

1 Aug 2014

29 Aug 2014

2.63%

01 Jul 2014

31 Jul 2014

2.67%

31 May 2014

30 June 2014

2.67%

1 May 2014

30 May 2014

2.66%

1 Apr 2014

30 Apr 2014

2.65%

1 Mar 2014

31 Mar 2014

2.63%

1 Feb 2014

28 Feb 2014

2.59%

25 Dec 2013

31 Jan 2014

2.59%

30 Nov 2013

24 Dec 2013

2.55%

1 Nov 2013

29 Nov 2013

2.60%

1 Oct 2013

31 Oct 2013

2.59%

31 Aug 2013

30 Sep 2013

2.60%

1 Aug 2013

30 Aug 2013

2.67%

29 June 2013

31 July 2013

2.82%

1 June 2013

28 June 2013

2.81%

1 May 2013

31 May 2013

3.01%

29 Mar 2013

30 Apr 2013

3.03%

01 Mar 2013

28 Mar 2013

3.00%

01 Feb 2013

28 Feb 2013

3.04%

29 Dec 2012

31 Jan 2013

3.11%

01 Dec 2012

28 Dec 2012

3.29%

01 Nov 2012

30 Nov 2012

3.22%

29 Sep 2012

31 Oct 2012

3.50%

01 Sep 2012

28 Sep 2012

3.63%

01 Aug 2012

31 Aug 2012

3.58%

30 Jun 2012

31 Jul 2012

3.58%

01 Jun 2012

29 Jun 2012

3.64%

01 May 2012

31 May 2012

4.10%

31 Mar 2012

30 Apr 2012

4.34%

01 Mar 2012

30 Mar 2012

4.40%

01 Feb 2012

29 Feb 2012

4.35%

31 Dec 2011

31 Jan 2012

4.50%

01 Dec 2011

30 Dec 2011

4.71%

01 Nov 2011

30 Nov 2011

4.79%

01 Oct 2011

31 Oct 2011

4.87%

01 Sep 2011

30 Sep 2011

4.82%

30 July 2011

31 Aug 2011

4.85%

01 July 2011

29 July 2011

4.91%

01 Jun 2011

30 Jun 2011

4.83%

30 Apr 2011

31 May 2011

4.83%

01 Apr 2011

29 Apr 2011

4.81%

01 Mar 2011

31 Mar 2011

4.79%

01 Feb 2011

28 Feb 2011

4.78%

25 Dec 2010

31 Jan 2011

4.82%

01 Dec 2010

24 Dec 2010

4.81%

30 Oct 2010

30 Nov 2010

4.63%

01 Oct 2010

29 Oct 2010

4.65%

01 Sep 2010

30 Sep 2010

4.59%

31 July 2010

31 Aug 2010

4.63%

01 July 2010

30 July 2010

4.70%

01 Jun 2010

30 Jun 2010

4.63%

01 May 2010

31 May 2010

4.40%

31 Mar 2010

30 Apr 2010

4.17%

27 Feb 2010

30 Mar 2010

3.95%

30 Jan 2010

26 Feb 2010

4.07%

23 Dec 2009

29 Jan 2010

3.95%

01 Dec 2009

22 Dec 2009

3.88%

31 Oct 2009

30 Nov 2009

3.59%

01 Oct 2009

30 Oct 2009

3.23%

01 Sep 2009

30 Sep 2009

3.14%

01 Aug 2009

31 Aug 2009

3.08%

01 July 2009

31 July 2009

3.10%

01 June 2009

30 June 2009

3.15%

01 May 2009

31 May 2009

3.05%

01 April 2009

30 April 2009

3.17%

28 February 2009

31 March 2009

3.12%

31 January 2009

27 February 2009

3.77%

24 December 2008

30 January 2009

4.24%

01 December 2008

23 December 2008

4.60%

01 November 2008

30 November 2008

5.88%

01 October 2008

31 October 2008

7.33%

30 August 2008

30 September 2008

7.21%

01 August 2008

29 August 2008

7.47%

01 July 2008

31 July 2008

7.56%

31 May 2008

30 June 2008

7.45%

01 May 2008

30 May 2008

7.52%

01 April 2008

30 April 2008

7.63%

01 March 2008

31 March 2008

7.47%

01 February 2008

29 February 2008

7.15%

01 January 2008

31 January 2008

7.08%

01 December 2007

31 December 2007

6.89%

01 November 2007

30 November 2007

6.73%

29 September 2007

31 October 2007

6.70%

01 September 2007

28 September 2007

6.80%

01 August 2007

31 August 2007

6.45%

30 June 2007

31 July 2007

6.27%

01 June 2007

29 June 2007

6.29%

01 May 2007

31 May 2007

6.28%

01 April 2007

30 April 2007

6.41%

01 March 2007

31 March 2007

6.27%

30 January 2007

28 February 2007

6.29%

01 January 2007

29 January 2007

6.32%

01 December 2006

31 December 2006

6.29%

01 November 2006

30 November 2006

6.23%

01 October 2006

31 October 2006

6.04%

Investment policy

Market participants are required to provide various forms of security. Credit support is required to provide prudential support for the operational exposure of market participants to the market, while reserve capacity security is required for projects that have been assigned capacity credits and which are under construction, or in development.

In each case, participants may provide prudential support in the form of security deposits. Under clause 2.38.5 and 4.13.6 of the WEM Rules AEMO must pay the market participant the interest accumulated on the deposit less any liabilities and expenses incurred by AEMO, including bank fees and charges. WEM Rule 4.13.6 refers to AEMO deposit rate which is discussed in the investment policy.

Investment policy (currently being updated)

This investment policy indicates the basis for setting the bank bill rate and also outlines AEMO's policy with respect to investment of security deposit funds.

This page is published in accordance with WEM Rule 10.5.1 (d).

 

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